In the 1st quarter the loan portfolio of the Group increased by 69 million
kroons, amounting to 2 245 million kroons at the end of the quarter. By the end
of the 1st quarter of 2008 the balance sheet total reached 2 833 million
kroons, thus increasing by 213 million kroons during the quarter. As of 31
March 2008 the loan portfolio formed 79% of the balance sheet total.
During the quarter the percentage of cash and equivalents has increased
significantly in the balance sheet total, amounting to 501.349 million kroons
as of the end of the quarter, or 18% of the balance sheet total.
As of the end of the period equity amounted to 520 million kroons, thus
increasing 10% during the quarter.
In the 1st quarter of 2008 Balti Investeeringute Grupi Pank AS organised two
bond issues directed to the local market. In January Balti Investeeringute
Grupi Pank AS issued bonds in the amount of 6 million euros (93.880 million
kroons) with a term of 1 year and in March in the amount of 10 million litas
(45.316 million kroons) with a term of 1 year.
The importance of term deposits in financing has increased. As of the end of
the quarter the volume of deposits totals to 209 million kroons (growth of 13%
with the quarter). The number of deposit customers increased by 43% in the
quarter.
In the 1st quarter the interest income totalled to 181.180 million kroons,
compared to 179.041 million kroons in the 4th quarter of 2007. Net profit
amounted to 48.712 million kroons compared to the 45.649 million kroons in the
4th quarter of 2007 (56.704 million kroons in 1st quarter of 2007).
The network of offices of Balti Investeeringute Grupi Pank AS has increased to
41 offices, of which 21 are located in Estonia, 15 in Latvia and 5 in
Lithuania. As of 31 March 2008 there were 504 employees working in the Group,
including 254 in Estonia, 205 in Latvia and 45 in Lithuania.
As of 31 March 2008 there were more than 122 000 active loan contracts, and
more than 111 000 loan customers.
Additional information:
Piret Raudsepp
CFO
+372 735 0923
